Stories for August 2015

Monday, August 31

San Diego Economy Slips Slightly in July, Index Finds

An index measuring the health of the San Diego economy took a downward turn in July, after 13 consecutive months of increases.

SDG&E Names Shults VP of Electric & Fuel Procurement

San Diego Gas & Electric announced that Emily Shults has been named vice president of electric & fuel procurement for SDG&E.

Scott Carter Named CEO at ID Analytics

ID Analytics LLC named Scott Carter as CEO, publicly announcing the move on Aug. 31.

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Consultants: Convention Center Clients Prefer Contiguous New Space

San Diego Convention Center clients prefer contiguous expansion space, though the city would also benefit from new space that is non-contiguous, according to results of a consultant’s study.

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Kratos Receives $6.38 Million Contract

Kratos Defense & Security Solutions Inc. said on Aug. 31 that a subsidiary recently received a $6.38 million task order related to ballistic missile defense and scientific research.

TriWest Healthcare Alliance Hiring Hundreds as it Expands San Diego Presence

TriWest Healthcare Alliance announced the company is hiring 240 employees in San Diego at its new Operations Center, which is scheduled to open on Sept. 8.

Sunday, August 30

Westfield Said to Be Considering Options, Including Launching Referendum to Block Carlsbad Lagoon Project

Mall operator Westfield Corp., whose local properties include Westfield Carlsbad, is mulling options including a referendum campaign, aimed at overturning the city’s approval of Caruso Affiliated’s planned retail center near the Agua Hedionda Lagoon.

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Wrapify Is Audience Favorite at EvoNexus Demo Day

Wrapify, a business that mixes advertising-emblazoned cars, GPS information, crowdsourcing and other computer technology to deliver outdoor advertising, was the audience favorite during the EvoNexus Demo Day on Aug. 27 at the University of California, San Diego.

Belching Beaver Brewery Buys Oceanside Building to Expand Beer Production

Vista-based craft beer maker Belching Beaver Brewery has purchased an Oceanside industrial building for approximately $2.36 million, with plans to operate a new five-stage, 30-barrel production system, according to brokerage firm Lee & Associates.

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The Business Calendar for the Week of Aug. 31, 2015

Some of the business events planned in the county for the week of August 31, 2015, and beyond.

Senomyx Inc. Announces Commercialization of Sweetner

Senomyx Inc., a biotechnology company that makes flavor-enhancers, announced that it has commercialized its sweetener product Sweetmyx S617.

La Jolla Apartment Property Sells for $8.55 Million

LJ Tides LLC has purchased a 30-unit apartment building known as The Tides for $8.55 million, according to brokerage company Colliers International.

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Kratos Receives Government Contract Worth More Than $8 Million

Kratos Defense & Security Solutions Inc. said on Aug. 28 that its RT Logic subsidiary received a five-year contract from an unspecified U.S. government agency for satellite electronics, as well as initial delivery orders worth more than $8 million.

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Friday, August 28

Westfield Said to Be Considering Referendum to Block Carlsbad Lagoon Project

Mall operator Westfield Corp., whose local properties include Westfield Carlsbad, is mulling options including a referendum campaign, aimed at overturning the city’s approval of Caruso Affiliated’s planned retail center near the Agua Hedionda Lagoon.

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Kratos Defense & Security Solutions Receives Government Contract Worth More Than $8M

Kratos Defense & Security Solutions Inc. said on Aug. 28 that its RT Logic subsidiary received a five-year contract from an unspecified U.S. government agency for satellite electronics, as well as initial delivery orders worth more than $8 million.

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Belching Beaver Buys Oceanside Building to Expand Beer Production

Vista-based craft beer maker Belching Beaver Brewery has purchased an Oceanside industrial building for approximately $2.36 million, with plans to operate a new five-stage, 30-barrel production system, according to brokerage firm Lee & Associates.

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Wrapify Is Audience Favorite During EvoNexus Demo Day

Wrapify, a business that mixes advertising-emblazoned cars, GPS information, crowdsourcing and other computer technology to deliver outdoor advertising, was the audience favorite during the EvoNexus Demo Day on Aug. 27 at the University of California San Diego.

Business Calendar for Week of August 31, 2015

Some of the business events planned in the county for the week of August 31, 2015, and beyond.

La Jolla Apartments Sell for $8.55 Million

LJ Tides LLC has purchased a 30-unit apartment building known as The Tides for $8.55 million, according to brokerage company Colliers International.

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Senomyx Announces Commercialization of Sweetner

Senomyx Inc., a biotechnology company that makes flavor-enhancers, announced that it has commercialized its sweetener product Sweetmyx S617.

Agreement Could Clear the Way for $1.25 Billion Navy Broadway Development

Manchester Financial Group has reached a settlement agreement with the California Coastal Commission, possibly clearing the way for work to proceed on a long-delayed, $1.25 billion redevelopment of the Navy Broadway Complex in downtown San Diego.

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Thursday, August 27

Town and Country's $80M Renovation Set to Start in Early 2016

Destination Hotels & Resorts is finalizing plans for a previously announced $80 million renovation of the landmark Town and Country Resort & Convention Center in Mission Valley, now slated to begin in early 2016.

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FDA Approval of DexCom's Glucose Monitoring System Boosts Stock Price

Stock price of San Diego-based DexCom Inc. has jumped over 10 percent following the FDA approval of the company’s DexCom G5 Mobile Conintous Glucose Monitoring System on August 25.

Canter Cos. Is Partnering With TriVant as Part of Wealth Management Initiatives

San Diego-based Canter Cos., a developer, broker and venture capital firm, said it is partnering with local portfolio manager TriVant Customer Portfolio Group to bolster its fledgling wealth management division and add $70 million in assets under management.

SDCCU's Membership Increases Nearly 9% in 12 Month Period

San Diego County Credit Union’s membership grew nearly 9 percent to 295,000 customers in the year ending June 30, the credit union said in its quarterly earnings report.

SDG&E Reaches a Renewable Energy Milestone, With an Assist From the Weather

San Diego Gas & Electric marked a milestone last week when it generated a record 1,042 megawatts — more than the Encina power station in Carlsbad — from renewable energy.

City Park Opening Near Pinnacle’s New Downtown Apartments

Civic San Diego and developer Pinnacle International have scheduled an Aug. 28 grand opening for Fault Line Park, the first public park to open in downtown’s East Village in more than a decade.

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GA-ASI Pays Workers $945,000 in Back Wages to Comply With Prevailing Wage Edicts

General Atomics Aeronautical Systems Inc. has paid $945,000 in back wages to 901 of its employees nationwide following a Department of Labor investigation, the federal agency said on Aug. 27.

Salk Scientist Appointed to National Commission on Forensic Science

Salk Institute for Biological Studies neuroscientist Thomas Albright has been appointed to the National Commission on Forensic Science to enhance the use and reliability of forensic science in the federal justice system.

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Crisis House’s Goal Is to House All the Homeless Veterans

On the last Friday in January, the annual 2015 count on homeless veterans in San Diego County was 1,381. El Cajon-based nonprofit Crisis House in partnership with the Volunteers of America and funding from the Department of Veteran Affairs is working to permanently house homeless veterans.

Old Carlsbad Delivers a Bouquet of Beauty and Charms

It’s hard to beat living on the beach in Carlsbad.

CYBER CHAMPS: Mike Davis CEO/CISO, ACMEcyber College/Degree: MSEE - Electrical Engineering

What do you like about doing business in San Diego?

New One Paseo Proposal Cuts Down on Retail, Office Space

Talks are in progress on Version 2.0 of One Paseo, and San Diego city officials, as soon as January, could be reviewing a downsized version of the controversial mixed-use development in Carmel Valley.

Big Data Meets Patient Data to Create a Complete Care Picture

BIOTECH: Co.’s System Is Looking to Advance Personalized Medicine

A tech startup with a highly experienced leadership team just emerged from stealth mode to launch a cloud computing service for doctors and health systems.

EveryStory Lets You Share Both the Telling and the Tales Online

Though their technology is driven by logic, Ed Cox and Dave Keene have a sales pitch that is pure emotion.

Inventor’s Device Aims for Better Way to Get Medicine to Lungs

BIOTECH: NIH and Defense Department Interested in Invention

For Donovan B. Yeates, building a better mousetrap means building a better medical device.

Kratos Sells Division For $260M

Kratos Defense & Security Solutions Inc. has completed the sale of one of its businesses and took steps to pay down its debt, the corporation said.

Navy, Sempra Sign Landmark Deal for Solar

UTILITY: Deal Is Largest Made With A Federal Entity

The U.S. Navy said that it has inked a landmark agreement with Sempra U.S. Gas & Power that constitutes the largest purchase of renewable energy ever made by a federal entity.

NuVasive Seeks Site for Manufacturing Facility

BIOTECH: Goal Is Is to Be Operational By the End of 2016

NuVasive Inc., a leading medical device company in San Diego, announced that it will expand its manufacturing operations with the intent to hire hundreds of new employees.

Legal Community Learns Lessons of Lean Operations

If you aren’t convinced of the notion that businesses need to be agile and move quickly to adapt to a more segmented and specialized world, look no further than the fate of the iconic law firm Luce, Forward, Hamilton & Scripps.

Settlement Allows TIG To Refocus on Clients

TECH: Co. Says Going to Court Was Not a Workable Option

Technology Integration Group is free from a two-year specter of federal indictment and trying to rehabilitate customer relations after prosecutors said this month the computer systems designer paid $10.5 million to end potential criminal and civil claims that TIG overcharged a federal laboratory for Dell computers.

Housing Crisis Hurts At Home and Work

ECONOMY: Solutions Sought; Workforce Can’t Afford S.D.

Thirteen years ago, San Diego City Council declared the city was suffering from a housing emergency, with less than 25 percent of families able to afford a median-priced home, then worth $379,000.

PUC Policy Looms Over Solar Horizon

ENERGY: Obama Plan Helps, But State Role More Impactful

President Obama introduced a bevy of initiatives this month to promote clean-energy growth in America’s homes and on its rooftops.

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PROPERTY: Irvine Puts Best Features Forward as It Bets Big on Spec Office

Irvine Co. apparently is not just welcoming surfers and bicyclists as potential future tenants at One La Jolla Center, its newly completed 15-story, $100 million tower at University Towne Center. There are design touches catering directly to them.

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Wednesday, August 26

Carlsbad Council Approves Plan for Retail Center Near Lagoon

Carlsbad City Council has unanimously approved plans by developer Caruso Affiliated to build a new Nordstrom-anchored retail center near the Agua Hedionda Lagoon.

Sequenom to Collaborate With Moores Cancer Center to Test Liquid Biopsy Diagnostic

Sequenom Inc., a life sciences company in San Diego, announced that it has entered into a clinical research collaboration with the University of California, San Diego Moores Cancer Center.

Qualcomm to Sell Licenses to Its Wireless Spectrum in the U.K. to 2 Companies

Qualcomm Inc. said Aug. 26 that it has agreed to sell licenses to its wireless spectrum in the United Kingdom to two companies.

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Northrop Drone Being Used to Monitor Tropical Storm Erika

The U.S. government reported Aug. 26 that an unmanned Global Hawk aircraft owned by NASA is making a 24-hour flight over Tropical Storm Erika in the Atlantic Ocean to conduct storm research.

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Chula Vista Industrial Buildings Sold for $8.9 Million

Buyers recorded as Britannia Partners LLC and VJS & BES Family Trust have purchased three Chula Vista industrial buildings for approximately $8.9 million, according to CoStar Group and public data.

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EDF Renewable Acquires Own Energy Inc.

San Diego-based EDF Renewable Energy said it had acquired Brooklyn’s Own Energy Inc., a developer of midsized wind projects.

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Trader Joe’s Plans New Store at SDSU Development

Specialty grocer Trader Joe’s has signed a lease to open a new store at San Diego State University’s new mixed-use South Campus Plaza, currently under construction.

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Epic Sciences Names Henderson Chief Information Officer

Epic Sciences Inc., announced the appointment of Dave Henderson as Epic's chief information officer.

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Tuesday, August 25

NuVasive Inc. Plans New Manufacturing Facility

NuVasive Inc., a medical device company in San Diego, announced that it will be expanding its manufacturing operations and hiring hundreds of new employees.

Qualcomm Chips Reportedly to Be in Some Next-Generation Samsung Galaxy Models

Qualcomm Inc. may be regaining a spot in some of Samsung’s next-generation smartphones, according to an Aug. 23 research note from Timothy Arcuri at Cowen & Co.

Joan and Irwin M. Jacobs Receive Carnegie Medal of Philanthropy for 2015

Joan and Irwin M. Jacobs have received the Carnegie Medal of Philanthropy for 2015, the Carnegie Corp. of New York announced Aug. 25.

Poway Apartment Complex Sold for $41.15 Million

An affiliate of Palo Alto-based Pacific Urban Residential has purchased the 193-unit Summerlyn Apartments in Poway for $41.15 million, according to brokerage company CBRE Group Inc.

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Index Reports Local Home Prices Increased 4.6% Over 12 Month Period

San Diego’s home prices rose 4.6 percent in the 12 months ending in June 2015, according to a national index measuring housing prices, maintaining its persistent growth just behind the average growth rate in the country’s 20 largest cities.

Human Longevity Inc. Names Winham as Chief Operating Officer

Human Longevity Inc. (HLI), a genomics-based tech company in San Diego, announced Tuesday that Mark A. Winham has joined the company as chief operating officer.

Emmes Gets $130 Million in Refinancing for Downtown Tower

An affiliate of property owner Emmes Group of Cos. has received $130 million in first mortgage debt to recapitalize 1 Columbia Place, its office tower at 401 W. A St. in downtown San Diego.

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Birnie Appointed CEO of Pacific Marine Credit Union

Oceanside-based Pacific Marine Credit Union said it had appointed the former president of Orange County’s Eagle Community Credit Union as Pacific Marine's CEO.

Black Angus Opening New Restaurant in Escondido

Black Angus Steakhouse plans an Oct. 5 opening for its new restaurant at Westfield North County mall in Escondido, where it will hire more than 100 people for various positions.

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Monday, August 24

Kratos Completes Sale of a Division, Plans to Pay Down Its Debt

Kratos Defense & Security Solutions Inc. has completed the sale of one of its businesses and took steps to pay down its debt, the corporation said on Aug. 24.

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National City Retail Property Sells for $14.87 Million

Santa Ana-based Red Mountain Inc. has purchased the National City Plaza retail property in National City for approximately $14.87 million, according to brokerage company Marcus & Millichap Inc.

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UCSD Takes Top Spot Again in Ranking for Doing Public Good

The University of California, San Diego earned top marks for its contributions to the public good, earning the number one spot on Washington Monthly’s annual rankings list for the sixth straight year.

Vista Apartment Building Sold for $7.55 Million

Carv Properties LLC of San Diego has purchased the 45-unit Newport Terrace apartment property in Vista for $7.55 million, according to brokerage firm ACRE Investment Real Estate Services.

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The Sum of This Company's Parts Is Impressive

For BuyAutoParts.com, the odometer just rolled past 999,999.

Halozyme Therapeutics Names LaBarre as Chief Scientific Officer

Halozyme Therapeutics Inc., a biotech developing novel oncology and drug-delivery therapies, named Michael J. LaBarre as chief scientific officer.

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Beloteca Inc. Appoints Mirejovsky to Chief Scientific Officer Role

San Diego-based Beloteca Inc., a pharma company developing generics and reformulations, announced the appointment of Dorla Mirejovsky as chief scientific officer.

Sunday, August 23

Military Radio Contract Could Be Worth $514.3 Million for ViaSat

ViaSat Inc. received a five-year contract for military radios that could ultimately be worth as much as $514.3 million, the Pentagon announced Aug. 21.

Unemployment Rate Increases for County, State in July

Unemployment in San Diego ticked up to 5.4 percent in July, up from 5 percent the month before, with the region losing about 2,500 industry jobs since June.

Cubic Receives Contract to Provide Training Electronics for F35 Fighter

Cubic Corp. said on Aug. 19 that it received a series of contracts from Lockheed Martin Corp. (NYSE: LMT) to put Cubic training electronics in the F-35 Joint Strike Fighter aircraft.

Biocept Inc. Announces CFO Resignation, Names Interim CFO

Biocept Inc., a molecular diagnostics company, announced the resignation and replacement of its Chief Financial Officer Bill Kachioff.

The Business Calendar for the Week of August 24, 2015

Some of the business events planned in the county for the week of August 24, 2015, and beyond.

Senior Apartment Property in Hillcrest Sells for $5.4 Million

Carv Properties LLC of San Diego has purchased a 35-unit senior apartment property in Hillcrest for approximately $5.4 million, according to brokerage firm ACRE Investment Real Estate Services.

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Historic Pack Loft Building in East Village Sold for $4.7 Million

JS Capital Enterprises Inc., an affiliate of Los Angeles-based JS Western Retail Investments, has acquired a historically-designated building in East Village for $4.7 million, according to brokerage firm Colliers International.

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Reznik Stepping Down as Executive Director of San Diego Housing Federation; Interim Director Named

he San Diego Housing Federation said its executive director, Bruce Reznik, was stepping down after little more than a year heading the advocacy group for affordable home developers and the banks that finance those projects.

Friday, August 21

Reznik Stepping Down as Executive Director of Housing Federation

The San Diego Housing Federation said its executive director, Bruce Reznik, was stepping down after little more than a year heading the advocacy group for affordable home developers and the banks that finance those projects.

Biocept Announces CFO Resignation, Names Interim CFO

Biocept Inc., a molecular diagnostics company, announced the resignation and replacement of its chief financial officer Bill Kachioff.

Unemployment Rate for County Increases in July

Unemployment in San Diego ticked up to 5.4 percent in July, up from 5 percent the month before, with the region losing about 2,500 industry jobs since June.

Business Calendar for Week of August 24, 2015

Some of the business events planned in the county for the week of August 24, 2015, and beyond.

Historic Pack Loft Building Sold for $4.7 Million

JS Capital Enterprises Inc., an affiliate of Los Angeles-based JS Western Retail Investments, has acquired a historically-designated building in East Village for $4.7 million, according to brokerage firm Colliers International.

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Apartment Property in Hillcrest Sells for $5.4 Million

Carv Properties LLC of San Diego has purchased a 35-unit senior apartment property in Hillcrest for approximately $5.4 million, according to brokerage firm ACRE Investment Real Estate Services.

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Thursday, August 20

Business Confidence Falls Slightly in July, Chamber Reports

The San Diego Regional Chamber of Commerce’s Business Forecast fell in July to its lowest point in a year, though the Chamber said the decline from June was statistically insignificant.

Seacoast Commerce Bank Announces Two Benchmarks

Seacoast Commerce Bank announced two benchmarks on Thursday: it had more than $500 million in assets and had gotten over $1 billion in loans approved by the U.S. Small Business Administration.

O.B. Gets Some TLC From a Co.’s Employees and a Nonprofit

Employees of Johnson Controls Inc. in San Diego gave up a Saturday recently to beautify and clean up one of San Diego’s beaches.

Suja Life LLC Decides That ‘Things Go Better With Coke’

San Diego’s favorite organic juice company is partnering with an unexpected beverage giant — Coca-Cola.

Co. Acts as Patients’ Guide for Medical Tourism to Mexico

MEDICAL: Vetting Of Services Provides Key Information, Safety

South Doctors Inc, a downtown startup focused on medical tourism, is vetting the legitimacy of health care treatments sought across the border.

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Looking For A Venture

LEADERSHIP: Entrepreneur Keeps an Eye Out for Opportunity and Helps Others Discover the Business World

Al Darnell Jr. is a serial entrepreneur. In the past decade, he’s started a half-dozen companies, including a cleaning service, a mortgage brokerage and a network of 25-cent gumball machines.

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CYBER CHAMPS: Scott Maxwell SVP, Chief IT Security Officer, San Diego County Credit Union

What do you like about doing business in San Diego?

Attorney’s Command in the Courtroom Earns Recognition

Vincent J. Bartolotta Jr., founding partner of Thorsnes Bartolotta McGuire was recently inducted into the International Academy of Trial Lawyers (IATL) at its midyear meeting held last month.

Jana Partners Owns More Qualcomm Stock Than Previously Disclosed

Jana Partners, the New York hedge fund whose critique of Qualcomm Inc. apparently influenced several parts of the chipmaker’s restructuring plan, disclosed in an Aug. 14 securities filing that it owned slightly more Qualcomm (Nasdaq: QCOM) stock than it did three months ago.

Top Admiral Says Navy’s UCLASS Drone Decision Still Up in Air

The debate over the role of a future, carrier-launched unmanned aircraft continues at the Pentagon, U.S. Navy Adm. Jonathan Greenert told reporters last week.

Planned Clinical Trial for Parkinson’s Treatment Would be a First

Biotech: Stem Cell Therapy Would Repair Damaged Brain Tissue

International Stem Cell Corp. is entering a human clinical trial to test if the company’s patented stem cell line will repair the brains of Parkinson’s patients.

Company Takes on Big Job Of Measuring Nanoparticles

TECH: Possible Markets Include Medicine, Oil, And Semiconductors

In a scene from detective fiction, the hero jumps into a taxicab, points a finger toward the windshield, and says three words that we all know are coming: “Follow that car.”

NuVasive Names Lai to CIO Position

Medical device maker NuVasive Inc. announced that Johnson Lai has been appointed chief information officer.

CAF Makes Leadership Changes, Will Add CEO

PHILANTHROPY: Geppert to Lead Search As Group’s Interim CEO

The Challenged Athletes Foundation, a San Diego-based organization that provides opportunities and support to people with physical challenges worldwide, announced two major leadership changes.

Raytheon to Fund a Local Center of Innovation

GIVING: STEM Initiative Will Establish 6 Facilities to Support Military Families

Raytheon Co. announced plans to fund a “Center of Innovation” at the Boys & Girls Clubs of South County as part of wider effort to support children in military families.

Distribution Proves Key to Delivering Successful Growth

Suja Life’s new partnership with the Coca-Cola Co. is intriguing on many fronts (See Page 8).

Airport Moves On to Next Big Ticket Items

TRAVEL: Terminal 1 Plans, Access Upgrades Considered

The recent $1 billion wave of improvements at San Diego International Airport boosted sustainability, streamlined vehicle traffic and security, and significantly upgraded concession offerings at Terminal 2 West.

FDA Grants Vical Inc. Infectious Disease Designation for Fungal Treatment

San Diego's Vical Inc. has won a "qualified infectious disease product" designation from the U.S. Food and Drug Administration for a proposed treatment of invasive aspergillosis, a potentially deadly fungal disease.

Multifamily Market Rides Rental Wave

PROPERTY: Demand Fuels Apartment Deals

The rising cost of buying single-family homes in San Diego County is pushing more people into the rental pool, and that is turning up the pace of apartment rent growth and property deal-making.

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Demand More Balance in How Women Are Treated

Wonder Woman — just like Superman — was a superhero born out of a time period and culture that made her creation necessary. She was created strong and powerful, fighting for justice, love, peace and gender equality.

Envision Solar, ChargePoint Agree to Promote Each Other's Products

San Diego-based Envision Solar and Campbell, Calif.-based ChargePoint have signed an agreement to promote each other's electric vehicle (EV) charging products and services.

Navy Signs Landmark Agreement With Sempra U.S. Gas & Power

The U.S. Navy said that it has inked a landmark agreement with Sempra U.S. Gas & Power, one that constitutes the largest purchase of renewable energy ever made by a federal entity.

Boeing Revs GKN’s Economic Engine

AIRCRAFT: Increase in 787 Work Means Hiring

Boeing Co. is ramping up production of its latest 787 Dreamliner, planning to churn out 12 jets a month next year and 14 per month by 2020, up from the 10 planes it makes each month now.

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‘HI!’ TECH

STARTUP: App Helps the Introverted and Others Make Connections at Conferences

Yuanyuan Zhou’s top computer science students not only have to put their minds to work. They need to get out there and shake some hands.

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New ConAm Executive to Oversee Multifamily Property Management

The ConAm Group of Companies (ConAm) has named Julie Brawn-Whitesides as its new executive vice president of property management, as the San Diego-based firm aims to grow its national multifamily property management portfolio.

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Quidel Announces Changes to Board of Directors

Quidel Corp., a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, announced that Mark A. Pulido has resigned as chairman of the company's Board of Directors, a position he had held for 11 years.

San Diego Apartment Portfolio Sold for $17.4 Million

Positive Investments of Arcadia has purchased a portfolio of three San Diego apartment properties with 171 units for a total of approximately $17.4 million, according to brokerage company Lee & Associates.

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Wednesday, August 19

SDG&E Develops Money-Saving Technology for Solar Systems

San Diego Gas & Electric Co. said that it has developed a money-saving alternative for residential customers who want to install solar panels.

Imperial Beach Apartments Sell for $5.16 Million

A buyer recorded as Savanna Apartments LLC of Laguna Beach has acquired the 30-unit Century Arms Apartments in Imperial Beach for $5.16 million, according to CoStar Group and Marcus & Millichap Inc.

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Golden Hill Apartment Property Sold for $6.2 Million

McNeill Property Investments LLC of San Diego has purchased a 30-unit apartment building in the city’s Golden Hill neighborhood for approximately $6.2 million, according to brokerage firm ACRE Investment Real Estate Services.

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3 S.D. Companies, 2 Universities Recognized for Diversity

Three San Diego companies and two universities are some of the most diverse and minority friendly in the country, according to an annual list released this week by Hispanic Network Magazine.

Work Begins on New Public Park at Sudberry’s Civita

Hazard Construction Co. has broken ground on Civita Park, the latest element of the Civita mixed-use community in Mission Valley, being developed by San Diego-based Sudberry Properties.

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Juice-Maker Suja Partners With Coca-Cola, to Expand Distribution

Coca-Cola Co. has bought a minority stake in San Diego’s organic-juice maker Suja Life LLC. The partnership will expand the juice company’s distribution, according to Suja’s chief executive Jeff Church.

La Jolla Pharmaceutical Signs Agreement With Vanderbilt University

La Jolla Pharmaceutical Co. has signed an exclusive worldwide research and license agreement with Nashville’s Vanderbilt University relating to the university’s research on bone formation.

Tuesday, August 18

Navy Awards Harper Construction $18.1 Million Task Order

The U.S. Navy awarded San Diego-based Harper Construction Co. Inc. an $18.1 million task order for construction at Naval Air Station Fallon in Nevada.

Raytheon Co. to Fund 'Center of Innovation' in Imperial Beach

Raytheon Co. announced plans to fund a “Center of Innovation” at the Boys & Girls Clubs of South County as part of wider effort to support children in military families.

San Diego County Hotel Property Deals Declined in First Half

The volume of San Diego County’s hotel property sales transactions declined 16 percent from a year ago in the first half of 2015, while the dollar volume of those deals slipped 1 percent, according to a newly released mid-year report by brokerage and research firm Atlas Hospitality Group.

Median Home Price Increases to $470,000 in July

The median home price in San Diego County rose 5.6 percent in July from the year before, to $470,000, while the number of homes sold continued their recent double-digit spurt, increasing 22 percent to 4,322, according to data from CoreLogic.

Eco Building Products Appoints Randy Smith to be CFO

Eco Building Products Inc. announced the appointment of Randy Smith as the company's chief financial officer.

Cohn Restaurant Group Opens Coasterra at Harbor Island

Cohn Restaurant Group recently opened Coasterra, the San Diego-based company’s new $15 million venue at Harbor Island.

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Johnson Lai Named CIO at NuVasive Inc.

Medical device maker NuVasive Inc. announced that Johnson Lai has been appointed chief information officer. Lai will be responsible for advancing the company’s information technology systems, process and procedures, according to a recent news release.

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Contract for Anthrax Vaccine Potentially Worth $143.5M for Pfenex

San Diego-based Pfenex Inc. announced it has signed a five-year, cost-plus fixed-fee contract valued at up to $143.5 million with the Biomedical Advanced Research and Development Authority of the Department of Health and Human Services, for the advanced development of a mutant recombinant protective antigen anthrax vaccine.

Monday, August 17

ROIC Reports Increase in Second-Quarter Revenue

Retail Opportunity Investments Corp., also known as ROIC, reported total revenue of $46.2 million for its second quarter ending June 30, up from $36.9 million in the year-ago quarter.

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General Dynamics NASSCO Announces Launch

General Dynamics NASSCO will launch its second liquefied natural gas-powered container ship for the TOTE logistics company during an evening ceremony on Aug. 29. The public is welcome to attend.

Petco Files Registration for Proposed IPO

The holding company for San Diego-based Petco Animal Supplies Inc. has filed a registration statement with the U.S. Securities and Exchange Commission, related to a proposed initial public offering of common stock.

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Three BAE Systems Employees Among Those Killed in Plane Crash

Three of the five people killed Sunday when two planes collided near Brown Field Municipal Airport were employees of defense contractor BAE Systems, authorities said.

Carlsbad Retail Center Getting $15 Million Renovation, Rebranding

Owner Linwood Ventures of Los Angeles plans a $15 million renovation of the former La Costa Towne Center in Carlsbad, with plans to rebrand the property as a luxury retail center called The Beacon La Costa.

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UC San Diego Ranked 14th Best University in World

The University of California, San Diego was ranked the 14th best university in the world for the third consecutive year, according to the 2015 Academic Ranking of World Universities (ARWU). The rankings were recently released by the Center for World-Class Universities at Shanghai Jiao Tong University, a public research university located in Shanghai, China.

Los Angeles Firm Buys Spring Valley Apartments for $14 Million

New Standard Equities (NSE) of Los Angeles has purchased a 74-unit apartment property in Spring Valley for $14 million, the company announced.

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Events.com, CrowdRise Partner to Create More Integrated Fundraising Platform

San Diego-based Events.com, an event management platform that facilitates the hosting and attending of events, and CrowdRise, an online platform dedicated exclusively to charitable fundraising, recently announced a partnership that will offer an integrated fundraising experience on one platform.

Sunday, August 16

Grocer Haggen Closing Six Stores in the County as Part of 27 Closures

Northwest grocery chain Haggen Food & Pharmacy plans to close 27 stores that it recently opened in four states, including six in San Diego County, over the next 60 days.

Carlsbad Firm Buys San Diego Retail Center for $12.7 Million

Carlsbad-based investment firm Capstone Advisors has purchased a three-building retail center in San Diego’s Carmel Mountain Ranch neighborhood for $12.7 million, the company announced.

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CORRECTION: Downtown Courtyard Hotel Not Being Sold

Contrary to a prior report, the 245-room Courtyard San Diego Downtown hotel is not for sale and is not under contract to be acquired by Richmond, Va.-based Apple Hospitality REIT.

Historic East Village Property Sells for $4.35 Million

PREF, an affiliate of San Diego-based investment firm Paragon, has acquired an historic East Village retail property known as the Unicorn Building for $4.35 million, according to brokerage firm Colliers International.

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Aethlon Medical Reports Fiscal 2016 Q1 Results

Aethlon Medical Inc., a maker of biofiltration devices to treat life-threatening diseases, announced results for the first quarter of fiscal 2016 ended June 30, 2015. The company said it had a cash balance of approximately $5.65 million at June 30.

MadCatz Interactive Reports Net Loss of $3.97 Million in Q1

MadCatz Interactive Inc., the San Diego producer of video game peripherals, reported a net loss of $3.97 million or 5 cents per share on net sales of $12.97 million for its first quarter, which ended June 30.

Youngevity International Inc. Reports Q2 Results

Chula Vista-based Youngevity International Inc., a global direct marketer of nutritional and lifestyle products and also a producer of gourmet coffees for the commercial, retail and direct sales channels, reported second quarter revenues increased 18.4 percent over the like quarter in the previous year to $38.7 million.

The Business Calendar for the Week of August 17, 2015

Some of the business events scheduled in the county for the week of August 17, 2015, and beyond.

Spy Inc. Reports Net Loss of $516,000 in Q2

Spy Inc., the Carlsbad-based maker of glasses and goggles which come with an edgy attitude, reported a net loss of $516,000, or 4 cents per share, on net sales of $8.12 million in its second quarter, which ended June 30.

Friday, August 14

Grocer Haggen Closing Six Stores in San Diego County

Northwest grocery chain Haggen Food & Pharmacy plans to close 27 stores that it recently opened in four states, including six in San Diego County, over the next 60 days.

Correction: Downtown Courtyard Hotel Not Being Sold

Contrary to a prior report, the 245-room Courtyard San Diego Downtown hotel is not for sale and is not under contract to be acquired by Richmond, Va.-based Apple Hospitality REIT.

Historic East Village Commercial Property Sells for $4.35 Million

PREF, an affiliate of San Diego-based investment firm Paragon, has acquired an historic East Village retail property known as the Unicorn Building for $4.35 million, according to brokerage firm Colliers International.

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Carlsbad Firm Buys Retail Center for $12.7 Million

Carlsbad-based investment firm Capstone Advisors has purchased a three-building retail center in San Diego’s Carmel Mountain Ranch neighborhood for $12.7 million, the company announced.

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Business Calendar for Week of August 17, 2015

Some of the business events scheduled in the county for the week of August 17, 2015, and beyond.

Aethlon Medical Inc. Reports Fiscal 2016 Q1 Results

Aethlon Medical Inc., a maker of biofiltration devices to treat life-threatening diseases, announced results for the first quarter of fiscal 2016 ended June 30, 2015. The company said it had a cash balance of approximately $5.65 million at June 30.

Youngevity International Reports Second Quarter Results

Chula Vista-based Youngevity International Inc., a global direct marketer of nutritional and lifestyle products and also a producer of gourmet coffees for the commercial, retail and direct sales channels, reported second quarter revenues increased 18.4 percent over the like quarter in the previous year to $38.7 million.

Thursday, August 13

Growing Peregrine Semiconductor Corp. Adds Third Building

Peregrine Semiconductor Corp. said on Aug. 13 that it added a third building to its two-building complex in San Diego’s Miramar neighborhood.

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Qualcomm Finalizes Purchase of British Semiconductor Maker

Qualcomm Inc. said Aug. 13 that it wrapped up its $2.4 billion acquisition of British semiconductor maker CSR PLC.

Our Future Depends on International Partners

According to a recent study, nearly 450 technology and life sciences startups were founded in San Diego last year.

Fitbit to Open an R&D Office in San Diego

TECH: Company Looking to Fill 13 Positions Locally

The popular wearables company Fitbit is recruiting engineers for a new research and development office it plans to open in San Diego.

City Pushes New Stadium Finance Plan

City and county leaders have put forward a revised financing plan, renderings and draft environmental impact report for a proposed Mission Valley stadium, aiming for a January public vote contingent on the San Diego Chargers returning to negotiations.

Center Hits the Road to Help Animal Welfare Organizations

For more than 13 years, through The Business of Saving Lives, the Helen Woodward Animal Center has demonstrated its dedication to saving the lives of homeless pets, not only within its San Diego-based facility, but in shelters and rescues across the globe.

La Jolla Farms Is a Perfect Canvas for Masterpiece Designs

There are a number of distinct areas in La Jolla, each with its own charm and appeal. Among the most storied, and encompassing some of the county’s most exclusive real estate, is La Jolla Farms.

In This Tight Market, a Retail Property Rarity Draws Buyers

Prime retail properties rarely hit the market in San Diego, and when they do, the price tags are rarely discounted. The latest example is the recent $107 million sale of the Walmart-anchored McGrath Center on Clairemont Mesa Boulevard in Kearny Mesa.

Goodsnitch Changes Name as Partnership Brings B2B Emphasis

Goodsnitch Inc. has changed its name to HundredX. A new partnership with marketing giant Ogilvy & Maher spurred the name change, company founder Rob Pace said last week.

Rate Hike Reverberations Would Be Felt By Credit Unions

FINANCE: Conference Sees Long-Term Loans, Deposit Pictures Changing

Credit unions are preparing for a possible increase in Federal Reserve-controlled interest rates next month and the risk it could create for balance sheets with significant levels of long-term assets.

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Ossic Is Attemping to Do Its Part for Virtual Reality: the Ears

STARTUP: Efforts at Audio Being Made to ‘Catch Up’ To Video Performance

Put on a pair of virtual reality goggles and your eyes start playing tricks on you.

Reagan Named SDCERA Chief Legal Officer

The board in charge of San Diego County’s $10.3 billion pension fund has hired the top lawyer at the city’s pension fund as its chief legal officer, the county pension’s first in-house general counsel in more than a decade.

Moxie Foundation Gives $5.1M Gift to SDSU

GIVING: It Will Fund Initiatives Promoting Entrepreneurship

San Diego State University received a $5.1 million gift from the Moxie Foundation to endow several entrepreneurial programs, the university announced on Aug. 11.

USD Names New Dean for School of Business

EDUCATION: Jaime Alonso Gómez To Take Helm Aug. 17

The University of San Diego has named Jaime Alonso Gómez as dean of its School of Business Administration, effective Aug. 17.

Director Awards Again Shows Quality Of Health Sector

The Corporate Directors Forum continues its healthy trend with the upcoming 2015 Director of the Year awards.

Eateries Hungrily Eye Anthony’s Location

DINING: Old Favorite Among 3 Plans Vying for Prime Spot

For now at least, intense community loyalty has saved Anthony’s Fish Grotto, a family-run downtown San Diego mainstay since 1946, from what appeared to be its pending ouster from the North Harbor Drive site that it’s occupied for 50 years.

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Banks Lower Bar On Jumbo Loans

FINANCE: Hot High-End Market Stokes Competition

JPMorgan Chase & Co. is relaxing lending requirements for mortgages up to $3 million, the latest in a series of moves by major banks to allow higher-end borrowers to buy homes with smaller down payments and lower credit scores as investor demand for quality mortgages increases.

Add Leadership Moves To Petco IPO Rumors

RETAIL: Co. Isn’t Talking as It Moves Into New Headquarters

Petco Animal Supplies Inc. recently announced changes to its leadership, including the addition of chairman duties to the job of CEO Jim Myers.

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County Credit Unions Have $10 Billion in Loans to Members

San Diego County credit unions had $10 billion loaned out to members by June 30, nearly 17 percent more than the year before, the California Credit Union League said Thursday.

Metacrine Fields a Biotech All-Star Team

PHARMA: Proven Staff to Tackle Metabolic Diseases

Rich Heyman, the heavyweight biotech executive who grew two startups into billion-dollar companies, is co-founding a new venture in San Diego.

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Accelerator’s Mission Is About More Than Building Businesses

STARTUPS: Aim Is to Build Confidence, Culture For Women Entrepreneurs

It took a screening of “The Social Network” to help launch the University of California, San Diego’s startup accelerator for women.

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On Track For Change

LEADERSHIP: Cubic CEO a Unifying Force at Co. With Diverse Pursuits

While the memory of its founder endures, Cubic Corp. now sits squarely in the post-Walter J. Zable era.

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SDG&E Agrees to Help Fund Use of Firefighting Helicopter

San Diego Gas & Electric on Thursday said it had renewed agreements with the city and county of San Diego to help pay for a heavy-duty helicopter capable of carrying more than 2,500 gallons of water to support local fire departments through November.

Bumble Bee to Pay $6 Million to Settle Criminal Charges Over Worker's Death

Bumble Bee Foods LLC will pay a record $6 million to settle criminal charges over the 2012 death of a worker who was locked inside a massive oven at the company’s Santa Fe Springs facility.

Half-Dozen Life Science Firms Report Earnings

Six San Diego County life science firms reported quarterly earnings and corporate updates.

Neuropore Therapies Inc. Launches Phase 1 Clinical Trial For Parkinson's Treatment

Neuropore Therapies Inc., a biopharmaceutical company in San Diego, has launched Phase 1 clinical trials for its drug candidate NPT200-11, a potential treatment for Parkinson’s disease.

Survey Finds Commercial Development Optimism Remains Strong

Statewide demand from industries including technology, advertising, media and information services is generating continued optimism among commercial real estate professionals, according to the latest twice-yearly survey by the law firm Allen Matkins and UCLA Anderson Forecast.

Wednesday, August 12

Cubic Awarded 10-Year Contract by Transport for London

Cubic Corp. said on Aug. 12 that it received a 10-year contract to maintain the intelligent transportation systems infrastructure in London. Financial terms of the deal were undisclosed.

Cox Communications Brings Super-Fast Internet Service to 3 Communities

Cox Communications announced on Aug. 12 that it brought 1 gigabit per second Internet speeds to three residential communities in East Village, Escondido and northern San Diego.

Target Plans Job Fairs to Fill 340 Local Positions

Target Corp. has scheduled two local job fairs for Aug. 13, where the company will interview candidates for 340 positions at upcoming new San Diego stores.

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Imprimis Signs License Agreement With Advanced Dosage

Imprimis Pharmaceuticals Inc., a company developing drug combo formulations, announced Wednesday that it has entered into a license agreement with Advanced Dosage Forms Inc.

Four-Campus San Diego Office Portfolio Sold for $258 Million

John Hancock Life Insurance Cos. has acquired a portfolio of four San Diego office campuses for $258 million, according to public data and real estate services provider HFF Inc.

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PatientSafe Solutions Appoints CFO

PatientSafe Solutions, which provides point-of-care mobile solutions for health care, has named Balaji Sekar its chief financial officer.

Scripps Health Launches Informational App

Scripps Health has launched a new app that provides patients and visitors with access to information about physicians and Scripps hospitals and clinics via smartphones and tablets.

Tuesday, August 11

Port Commissioners Keep Anthony’s In Running for Longtime Waterfront Site

San Diego port commissioners have decided to keep the iconic Anthony’s Fish Grotto in the mix of finalists vying to set up shop on the North Harbor Drive site occupied by Anthony’s for the past five decades.

ImageWare Systems Records Q2 Net Loss of $2.1 Million

ImageWare Systems Inc. recently reported a second quarter net loss of $2.1 million, or 2 cents per share, on revenue of $1.7 million. Results were similar in the same quarter one year ago, when the business reported a net loss of $2.1 million or 2 cents per share — though revenue was less at $937,000.

SDSU Receives $5.1 Million Gift From Moxie Foundation

San Diego State University received a $5.1 million gift from the Moxie Foundation to endow several entrepreneurial programs, the university announced on Aug. 11.

Event Tech Firm Ranks San Diego 4th Among U.S. Meetings Destinations

San Diego placed fourth among U.S. cities in the latest annual ranking of the nation’s top 50 meetings destinations, compiled by event management technology provider Cvent Inc.

Chula Vista Medical Office Buildings Sold for $15 Million

Orlando, Fla.-based CNL Healthcare Properties Inc. has purchased two medical office buildings in the Eastlake village of Chula Vista for $15 million, according to brokerage company JLL.

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Gupta Wealth Passes $1B in Assets Under Management

San Diego-based Gupta Wealth Management on Tuesday said it had passed $1 billion in assets under management.

DexCom, Google Partner on Diabetes-Related Products

Medical device maker DexCom is partnering with Google Life Sciences to develop a new generation of smaller, less expensive continuous glucose monitors (CGM) for people with diabetes.

Silvergate Bank More Than Doubles Q2 Net Income

La Jolla-based Silvergate Bank on Tuesday posted second-quarter net income of $3.1 million, more than double the $1.5 million reported during the same period last year.

Drugmaker Zogenix Reports Q2 Revenue of $7.4 Million

San Diego drugmaker Zogenix reported revenue of $7.4 million in the second quarter of 2015, up from $6.7 million in the same quarter last year.

Westfield Group Plans 10-Screen Movie Theater at Escondido Mall

Mall operator Westfield Group plans to add a 10-screen movie theater and adjacent pedestrian plaza at its Westfield North County property in Escondido, according to the city manager’s office.

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Monday, August 10

Gilbert Addeo Named COO at Investment Placement Group

Investment Placement Group, a network of affiliated wealth management companies, has hired a former Pershing LLC director as its new chief operating officer, the San Diego-based company said.

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Encore Capital Reports Record Q2 Collections, Earnings

Encore Capital Group, the San Diego-based buyer of defaulted credit card debt, reported record collections and earnings on Monday, posting second quarter revenue of $290 million, an increase of 8 percent over the same period last year.

MabVax Posts Net Loss of $6.4 Million for Second Quarter

Cancer vaccine-maker MabVax Therapeutics Holdings Inc. reported a net loss of $6.4 million in the second quarter of this year, up from $2.4 million in the same period last year.

City Pushes New Stadium Finance Plan, Aims for January Vote

City and county leaders have put forward a revised financing plan, renderings and draft environmental impact report for a proposed Mission Valley stadium, aiming for a January public vote contingent on the San Diego Chargers returning to negotiations.

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InfoSonics Reports Q2 Net Loss of $678K on Net Sales of $10.9M

InfoSonics Corp., the San Diego-based maker of wireless phones and tablets, reported a net loss of $678,000 (or 5 cents per share) on net sales of $10.9 million during its second quarter, which ended June 30. One year ago, the business reported net income of $109,000 (or a penny a share) on net sales of $10.4 million.

Gomez Named Dean of USD School of Business Administration

The University of San Diego has named Jaime Alonso Gómez as dean of its School of Business Administration, effective Aug. 17.

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PriceSmart’s July Sales Increase 14.5 Percent

San Diego-based PriceSmart Inc., which owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, announced that for the month of July 2015 net warehouse club sales increased 14.5 percent to $227.4 million, from $198.6 million in July of 2014.

San Diego Apartments Acquired for $3 Million

HS Partners LLC recently acquired a 20-unit apartment complex in eastern San Diego for $3 million, according to brokerage company Apartment Consultants Inc. (ACI).

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Sorrento Therapeutics Subsidiary Acquires Immunotherapy Programs, Technology

A wholly owned subsidiary of Sorrento Therapeutics Inc. has acquired multiple preclinical and clinical stage chimeric antigen receptor immunotherapy programs as well as underlying CAR-T technology.

Carlsbad Office Building Sells for $28.1 Million

Denver-based Miller Global Properties LLC recently purchased the Ocean Ridge office building in Carlsbad for $28.1 million, according to CoStar Group and brokerage company CBRE Group Inc.

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Sunday, August 9

Several Leadership Changes Announced at Petco

Petco announced several leadership changes including the addition of chairman responsibilities to CEO Jim Myer’s role. The company also named Brad Weston as president.

Anthony's Fish Grotto Not Among Port's Finalists to Develop Restaurant

Unified Port of San Diego staff have recommended that the port district enter into negotiations with two locally based finalists – Brigantine Inc. and Sunroad Enterprises -- to potentially replace Anthony’s Fish Grotto when its downtown restaurant lease expires.

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Revenues, Attendance Continue Decline at SeaWorld Entertainment

The Florida-based parent company of SeaWorld San Diego saw continued declines in revenue and attendance in its second quarter ending June 30, as adjusted net income from its U.S. theme parks dropped 50 percent from the year-ago quarter.

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The Business Calendar for the Week of August 10, 2015

Some of the business events scheduled in the county for the week of August 10, 2015, and beyond

BofI Federal Bank Gets Approval to Buy H&R Block Banking Business

BofI Federal Bank says it has received regulatory approval for its planned purchase of H&R Block’s banking business for an undisclosed amount, with the deal now expected to close by the end of September.

Pair of Biotech Veterans Appointed to Poseida Board of Directors

Poseida Therapeutics Inc., a therapeutics spin out of Transposagen Biopharmaceuticals Inc., announced the appointment of Dr. Lars Ekman and Dr. Nishan de Silva to the company's Board of Directors.

Traina Design, Lift to Merge Operations

Traina Design, a brand design firm, has merged its San Diego operations with creative services firm San Diego-based Lift, a design firm with special emphasis in the technology and retail industries.

Sean Clancy Named Managing Director of Loews Coronado Bay Resort

New York-based Loews Hotels & Resorts has appointed Sean Clancy as managing director of Loews Coronado Bay Resort, heading all operations at the 439-room property.

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Friday, August 7

Deadline Extended for Nominations for the 2015 Healthcare Champions Awards

The San Diego Business Journal is accepting nominations for the 2015 Healthcare Champions Awards, which honors individuals within the San Diego community who have demonstrated exceptional leadership and innovation in the rapidly changing healthcare industry.

Jack in the Box Stock Falls Despite Healthy Q3 Earnings

Shares of Jack in the Box Inc. fell 7 percent over two days, despite the San Diego-based restaurant chain reporting better-than-expected third quarter earnings late Aug. 5.

Local Design Firms Traina, Lift Announce Merger Deal

Traina Design, a brand design firm, has merged its San Diego operations with creative services firm San Diego-based Lift, a design firm with special emphasis in the technology and retail industries.

BofI Federal Bank's Purchase of H&R Block's Banking Business Gets Approval

BofI Federal Bank says it has received regulatory approval for its planned purchase of H&R Block’s banking business for an undisclosed amount, with the deal now expected to close by the end of September.

Encinitas Office Property Sells for $4.75 Million

Investor Paul Meardon of San Diego has acquired an Encinitas office property for $4.75 million, according to brokerage company Marcus & Millichap Inc.

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Loews Names Clancy as Managing Director of Coronado Resort

New York-based Loews Hotels & Resorts has appointed Sean Clancy as managing director of Loews Coronado Bay Resort, heading all operations at the 439-room property.

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Petco Announces New President, Leadership Changes

Petco announced several leadership changes, including the addition of chairman responsibilities to CEO Jim Myer’s role. The company also named Brad Weston as president.

Conatus Says R&D Expenses Contributed to Q2 Net Loss of $6.1 Million

Conatus Pharmaceuticals Inc., a biotech focused on the development and commercialization of liver disease drugs, announced financial results Friday for the second quarter.

SeaWorld Entertainment Reports Declines in Revenue, Attendance

The Florida-based parent company of SeaWorld San Diego saw continued declines in revenue and attendance in its second quarter ending June 30, as adjusted net income from its U.S. theme parks dropped 50 percent from the year-ago quarter.

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Single-Family Home Sales Increased 12 Percent in July

Sales of San Diego single-family homes rose 12 percent in July compared to the year before, with 2,250 sales recorded, according to the Greater San Diego Association of Realtors, though the figures are down from the month before.

Poseida Therapeutics Appoints Two to Board of Directors

Poseida Therapeutics Inc., a therapeutics spin out of Transposagen Biopharmaceuticals Inc., announced the appointment of Dr. Lars Ekman and Dr. Nishan de Silva to the company's Board of Directors.

Port Staff Recommends 2 Finalists for Anthony’s Fish Grotto Site

Unified Port of San Diego staff have recommended that the port district enter into negotiations with two locally based finalists – Brigantine Inc. and Sunroad Enterprises -- to potentially replace Anthony’s Fish Grotto when its downtown restaurant lease expires.

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Business Calendar for Week of August 10, 2015

Some of the business events planned in the county for the week of August 10, 2015, and beyond.

Thursday, August 6

City of San Diego's Fiscal Health Markedly Improved, Auditor Says

San Diego’s financial health has improved dramatically over the past decade, recovering from a pension crisis and fiscal mismanagement that brought the city close to bankruptcy, according to a report from the city auditor Thursday.

Earnings Announced for Four Companies Serving Defense Industry

Four San Diego County companies whose business models combine military electronics with other pursuits reported quarterly operating results on Aug. 6.

Renovate America Completes $159.8 Million Securitization

Renovate America, a provider of Residential Property Assessed Clean Energy financing, said Thursday it finished the fourth securitization of PACE (Property-Assessed Clean Energy) bonds by issuing $159.8 million in notes.

Thanks to Many, the San Salvador Is Back in Local Waters

The Maritime Museum of San Diego has launched the San Salvador, a full-sized, fully functional replica of the original Spanish galleon that arrived at the port that we now call San Diego in 1542.

Home of the month: Equestrian Sanctuary

Old-world charm, grace and understated grandeur define the style of this equestrian estate.

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Tenants Weigh Costs of Cool Lifestyle Space at Work

WORKPLACE: Millennials Seek Office Buzz But Also Private Areas

Dan Khabie got exactly what he was looking for when he moved his digital marketing firm from the Gaslamp into 18,000 square feet of space in East Village’s DiamondView Tower in 2011.

Bringing Out Their Best

PROPERTY: Walls Are No Longer the Limit as Developers Add Outdoor Workspaces and Amenities to the Office Mix

In the past two decades, San Diego County shoppers have been visiting malls converted into open-air “lifestyle centers” designed to take advantage of the region’s year-round friendly climate. Lately they’ve also been furnishing their homes’ patios and backyard decks with a growing array of furniture and appliances designed to bring their indoor living rooms to the outdoors.

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High-End Hotel Properties Up Ante on Luxury

TRAVEL: Downtown Arrivals May Pressure Others Into Renovations

Luxury hoteliers appear to be reaping the biggest returns in a healthy local and national tourism economy, and observers say the roster of new hotels on tap for downtown San Diego could significantly raise the posh quotient in places including East Village and the Gaslamp Quarter.

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Fentin’s Family Law Credentials Served Her Well in Leadership Role

Hildy L. Fentin has successfully completed her year as president of the Southern California Chapter of the American Academy of Matrimonial Lawyers. Fentin, a principal of Hildy L. Fentin Attorney at Law, is one of four San Diego attorneys on the board.

Retailers and Others Finding the Right Space in Midway District

PROPERTY: New Tenants, Gulls’ Games Add to Area’s Standing

With pro hockey’s San Diego Gulls set to make their latest return flight to the Midway district this fall, the aging neighborhood that grew up around the city-owned sports arena has other new commercial elements in the works.

With Zohydro in the Rearview Mirror, Zogenix Moves On

PHARMA: Co.’s Two Drug Candidates Appear Promising, Uncontroversial

After selling off its controversial painkiller earlier this year, Zogenix is using $86 million from a recent public offering to refuel its clinical pipeline. This time, the company is steering clear of opioids and pain management.

Executive Q&A: Kevin Carroll of Software San Diego

Kevin Carroll, the new executive director of Software San Diego, recently sat down with the San Diego Business Journal to offer his views of San Diego’s information technology sector and how his organization might move it forward.

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Donation Aims to Help More Students Access STEM Studies

A donation from medical device maker ResMed Inc. is being used to launch a program in San Diego to prepare low-income students for the left-brain jobs that dominate the local economy.

Northrop Maneuvers to Ensure Planned Sale of Drones to Australia

Northrop Grumman Corp. hopes to sell several of its high-flying Triton surveillance drones to Australia, and looks like it’s trying to sweeten the pot.

Scripps Ranch Office Building Sold for $5.1 Million

Hill Properties, doing business as 9715 Businesspark Ave. LLC of La Jolla, has purchased a Scripps ranch office building for approximately $5.1 million, according to Voit Real Estate Services.

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Company Helps Travelers and Their Devices Avoid Energy Crises

TECH: FuelRod’s Kiosks Dispense Portable Rechargers

Give me your tired, your poor, your huddled traveling masses with dead cellphones and tablets. Joe Yeagley and Chi Yau have a particular interest in the latter.

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Maxwell to Trim Staff, Consolidate

Maxwell Technologies Inc., a maker of energy storage devices called ultracapacitors, said on July 30 that it was in the process of restructuring, reducing headcount and consolidating U.S. manufacturing operations, all in order to reach profitability.

Donation to Help Develop Assistive Technologies

RESEARCH: UCSD Computer Scientists Seek to Aid Disabled

A $300,000 gift from the Moxie Foundation will support computer scientists at the University of California, San Diego who are researching and developing high-tech assistive technology to help individuals with disabilities.

Iberdrola Renewables to Partner With SoCal Edison on Wind Power Project

Iberdrola Renewables, a CleanTech San Diego member, has agreed to a 15-year contract to supply Southern California Edison (SCE) with renewable energy from the planned Tule Wind Power Project in eastern San Diego County.

Isis Deal Brings Company $65 Million Upfront

PHARMA: Antisense Technology to Be Used For More Applications

Isis Pharmaceuticals is expanding its reach into even more drug areas after signing a major drug development partnership with AstraZeneca, bringing the Carlsbad biotech $65 million upfront.

Coworking Spaces Get the Creative Juices Flowing

This issue contains several stories about workplaces of the future, including how smaller companies have increasing access to contemporary office settings. In fact, individuals can be part of the trend, too.

Asian Manufacturers Commit to Mexico

TRADE: Market Proximity, Costs Favor Making Move

Two Asian manufacturers are pledging a total of $50 million to set up facilities in Tijuana and Mexicali, Baja California’s economic development agency said last month, part of what Mexican officials and business advocates expect to be an influx of new investments from Asian companies.

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Callaway Golf Declares Dividend, Announces New Line of Clubs

Carlsbad-based Callaway Golf Co. recently added a director to its board, declared a quarterly dividend and announced it was bringing a new line of golf clubs to market.

North Park Apartments Planned Following $7.1 Million Land Buy

Phoenix-based Alliance Residential Co. has purchased a North Park land parcel for approximately $7.1 million, with plans to develop a new 118-unit apartment community, according to brokerage company CBRE Group Inc.

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MabVax, The Rockefeller University Announce Collaboration

San Diego-based MabVax Therapeutics Holdings Inc., an oncology company working on cancer vaccines, has entered into a research collaboration with The Rockefeller University.

Employee Stock Plans Show Increase Locally

FINANCE: Owners Can Sell; Workers Profit from Profits

Attorney Marc Schechter specializes in helping business owners sell their companies, not to competitors or family members, but to their own employees. Schechter’s firm, Butterfield Schechter LLP, is one of the largest in Southern California to focus on employee stock ownership plans (ESOP) and has seen a spike this year.

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USC, UCSD Clash Brings Flaws Forward

BIOTECH: Its Alzheimer’s Program Will Be Revamped

Leaders at the University of California, San Diego’s medical school are brainstorming ways to safeguard the university’s reputation in response to an ongoing legal dispute that gets uglier by the day.

AMN Healthcare Stock Gets Boost After Strong Earnings Report

AMN Healthcare Services stock hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report.

Qualcomm to Acquire Ikanos Communications Inc.

Qualcomm Inc. said early Aug. 6 that it plans to buy a chip maker in the San Francisco Bay area for about $47 million. Qualcomm will also assume its debt.

County Retirement Fund Changes Course

FINANCE: New CIO Takes Less Leveraged Approach

There’s been a sea change at San Diego County’s $10.3 billion pension fund.

Groundbreaking Space

PROPERTY: BioMed’s i3 Will Provide Location, Innovation and Inspiration

When BioMed Realty set out to build the i3 development in University Towne Center, its goal was to create a showpiece project to reflect the very best commercial space available for the growing life science industry.

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Wednesday, August 5

S.D. Residents' Electric Bills Among Highest in State, Chamber Says

San Diego residents pay the highest average electricity bills out of the state’s five largest cities, according to a report released Wednesday by the San Diego Regional Chamber of Commerce.

County Pension Board Names Chief Legal Officer

The board in charge of San Diego County’s $10.3 billion pension fund said Wednesday it hired the top lawyer at the city’s pension fund as its chief legal officer, the county pension’s first in-house general counsel in more than a decade.

AleSmith Beers Now Being Distributed in Minnesota, Virginia

San Diego’s AleSmith Brewing Co. has signed agreements to distribute its craft beers in Minnesota and Virginia.

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McGrath Retail Portfolio in Kearny Mesa Sold for $107 Million

San Diego- based HP Investors LLC has teamed with Clarion Partners of New York to purchase the McGrath family retail portfolio in Kearny Mesa for approximately $107 million, according to the buyers and local brokers.

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Navy Awards Exelis $97.3 Million Deal

The U.S. Navy said on July 30 that it awarded Exelis, now part of Harris Corp., a contract to deliver 46 airborne radio signal jammers used in F/A-18 Hornet aircraft.

Ligand Appoints Matthew Konenberg CFO

Ligand Pharmaceuticals Inc. announced the appointment of Matthew Korenberg as vice president of finance and chief financial officer effective Aug. 6.

First Building Completed at Shelter Island Commercial Development

Developers Driscoll Inc. and United Development Group Inc. planned an Aug. 5 public ceremony to mark completion of the first of three new commercial buildings planned at Intrepid Landing, near America’s Cup Harbor at Shelter Island.

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AmpliPhi Announces Reverse Stock Split

AmpliPhi BioSciences Corp. announced Tuesday that its board of directors has approved a 1-for-50 reverse stock split to become effective at the market's opening on August 7.

Tuesday, August 4

Home Values Gain 4.5 Percent in June, CoreLogic Reports

Home values in San Diego and Carlsbad rose again in June, gaining 4.5 percent over the past year, though homes appreciated 6.5 percent nationwide, according to a report from CoreLogic.

EDF Completes Sale of California Solar Project

San Diego-based EDF Renewable Energy closed on the sale of the Catalina Solar 2 Project, located in Kern County, to Virginia-based Dominion, a producer and transporter of energy.

Primero Systems Announces New Leadership Roles

Primero Systems Inc. has promoted Steve Press to president and German Porta to chief technology officer, the company recently announced.

UCSD Startup Accelerator Awarded $50,000 SBA Grant

A University of California, San Diego startup accelerator for women students received a national award Tuesday from the U.S. Small Business Administration’s Growth Accelerator Fund competition, the second time the organization has earned a $50,000 grant from the SBA.

LRAD Corp. Sells System to Government of South Africa

Rancho Bernardo-based LRAD Corp. said that it sold its first mass-notification device to the government of South Africa.

Construction Starts on Sharp Rees-Stealy Facility in Rancho Bernardo

Construction has begun on a new 100,000-square-foot building off Interstate 15, where healthcare services provider Sharp Rees-Stealy will be relocating its Rancho Bernardo branch operations.

Index Finds Region's Economic Health Improving Slightly

An index of San Diego’s economic health rose slightly in June even as San Diego’s growth continued to slow, the University of San Diego said Tuesday.

Sempra Energy, SDG&E Report Q2 Results

Sempra Energy reported second-quarter 2015 earnings of $295 million, or $1.17 per diluted share, compared with $269 million, or $1.08 per diluted share, in the second quarter 2014.

Isis Pharmaceuticals Reports Q2 Net Income of $35.6 Million

Isis Pharmaceuticals Inc. reported net income of $35.6 million for the second quarter, compared to a net loss of $12.1 million for the same period last year.

Monday, August 3

Navy Awards Tetra Tech $7.1 Million Contract

The U.S. Navy awarded the San Diego office of Tetra Tech EC Inc. a $7.1 million contract modification for environmental cleanup at the Navy Exchange gas station in the Jackson Park housing complex in Bremerton, Wash. The deal includes options which, if exercised, would add as much as $200,000 to the cost.

Developer Buys San Marcos Land for $17 Million

Seattle-based developer Intracorp Cos. has purchased two land parcels in San Marcos for $17 million, with plans to build an apartment community, according to brokerage firm Land Advisors Organization.

Cohu Inc. Reports Q2 Net Loss of $72K on Net Sales of $75.2M

Cohu Inc. — the Poway business that makes machines to test and inspect semiconductors — reported a net loss of $72,000 on net sales of $75.2 million for the second quarter.

San Diego Ranked 6th Best Place to Live by Website

San Diego is the sixth-best large city to live in, according to rankings Monday from financial literacy website WalletHub.

Isis Pharmaceuticals to Partner With AstraZeneca

Isis Pharmaceuticals is expanding its reach into even more drug areas after signing another major drug development partnership with AstraZeneca, bringing the Carlsbad biotech $65 million upfront.

Lemon Grove Retail Property Sold for $9.6 Million

A San Diego entity recorded as Taco Aide LLC has purchased a two-building Lemon Grove retail property housing Rite Aid and Taco Bell for $9.6 million, according to commercial brokerage firm CDC Commercial Inc.

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Sempra Subsidiary IEnova to Acquire PEMEX’s Equity Interest in Joint Venture

Sempra Energy’s Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V., and Petróleos Mexicanos (PEMEX) recently announced that IEnova has agreed to purchase PEMEX's 50-percent equity interest in the Gasoductos de Chihuahua joint venture for $1.325 billion, plus the assumption of approximately $170 million in net debt.

Moody's Downgrades Credit Rating for Millennium Health

Rancho Bernardo-based Millennium Health had its credit rating downgraded by rating agency Moody’s, the second time in five weeks that the outlook for the nation’s largest drug-testing company has slipped.

Sunday, August 2

Richman Group Plans $100 Million Mixed-Use Project in East Village

San Diego’s downtown project oversight agency has approved plans by Richman Group of California Development Co. for a $100 million mixed-use, high-rise residential project in East Village.

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E-commerce site GovX.com Completes $11.5M Funding Round

E-commerce site GovX.com said on July 31 that it completed an $11.5 million funding round to expand its service offerings.

ResMed Announces China Expansion and Q4 Results

Medical device firm ResMed is set to expand in China and says it remains on track to meet its 2020 goals after a lift in its fourth-quarter revenues, according to recent financial statements.

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SBA Lending on Pace for Possible 'Record-Setting Year'

San Diego and Imperial County banks and other lenders issued 663 Small Business Administration-backed loans worth $287 million in the past nine months, about a 20 percent increase from last year, the SBA said recently.

The Business Calendar for the Week of Aug. 3, 2015

Some of the business events planned in the county for the week of Aug. 3, 2015, and beyond.

BioMed Realty Trust Reports Strong Leasing in Q2

San Diego-based BioMed Realty Trust Inc. posted total revenue of approximately $158 million for its second quarter ending June 30, down from $171.2 million for the same period of 2014.

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Suneva Medical Raises $35.4M in Capital

San Diego-based Suneva Medical Inc., a developer of facial skin products, announced the closing of a $15 million equity investment by Almirall Inc., an affiliate of Almirall S.A., a global pharmaceutical company primarily focused within the therapeutic area of medical dermatology.

Insight San Diego Report Card Sees Room for Improvement

San Diego received passing, but middling, grades on its economy, environment and social equity, according to a local report card backed by the San Diego Regional Economic Development Corp. and others.

Vista Industrial Building Sold for $3.15 Million

Investor Paul Wagner of Carlsbad has acquired a Vista industrial building for $3.15 million, according to brokerage company Lee & Associates and public data.

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